Force Motors to raise Rs 500 crore through NCDs

Automobile company Force Motors on Tuesday said, “Its board has approved to raise to Rs 500 crore through issuance of non-convertible debentures (NCDs).”

In a filing with the stock exchange, Force Motors said, “The board of directors in its meeting held on 11 January, approved issuance of non-convertible debentures (NCDs) of up to Rs 500 crore through private placement in one or more tranches.”

“The issue is subject to necessary approval of the shareholder of the company,” it said.